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Marijuana legalization in Pennsylvania could lead to $2.8 billion in legal sales within a year.
That’s the rosy projection released Thursday by legalization advocacy organization Responsible PA, which hired FTI Consulting to crunch the numbers.
It’s also about $1 billion more than the $1.7 billion in medical marijuana sales projected for 2024 by the MJBizFactbook.
But that all hinges on whether marijuana legalization – or any one of the three adult-use cannabis proposals currently languishing in the state legislature – can break out of a familiar partisan deadlock.
State Reps. Reps. Aaron Kaufer and Emily Kinkead on Monday announced their intention to introduce a cannabis legalization bill.
The pair join Democratic Gov. Josh Shapiro in the quest to legalize adult-use marijuana, which already is a reality in nearly every state bordering Pennsylvania, save West Virginia.
While Democrats control the state House, leaders in the Republican-controlled state Senate have said the federal government must act on marijuana legalization first.
Consequently, observers say it’s unlikely that legalization will become part of any budget deal that emerges in Harrisburg before a June 30 deadline.
Among the various proposals for adult-use marijuana in the state is a state-run franchise model similar to how liquor is sold in Pennsylvania.
Another pitch is to allow existing medical-marijuana operators to start selling to adults 21 and over.
In addition to billions in potential sales, adult-use legalization could support between 26,250 and 44,500 jobs in Pennsylvania, FTI’s analysis estimated.
With a 6% sales tax and a 15% excise tax, the state could glean as much as $212 million in revenue, according to FTI.
